ARMENIAN GOVERNMENT TO LEND ARMROSGAZPROM $40MLN

ArmInfo
2009-10-01 18:47:00

ArmInfo. The Government of Armenia will provide ArmRosgazprom CJSC
with a $40mln budgetary credit.

The press service of the Government of Armenia reports that the
Government has instructed the Minster of Finance to provide the loan
in AMD in Q4 2009.

The repayment period will be 6 months, the interest – 11%.

Prime Minister of Armenia Tigran Sargsyan said that the loan was
supposed to help the company to successfully implement its investment
program.

"This is an anti-crisis decision and the credit will be provided for
a short term," Sargsyan said.

In Jan-Sept 2009 ArmRosgazprom invested 37.1bln AMD (almost $100mln)
in gas projects in Armenia.

In early July 2009 the Commission on Regulation of Public Services of
Armenia approved the investment program of ArmRosgazprom for 2009-2011
worth 61.6bln AMD ($171mln). 80% of the company’s shares belong of
Gazprom, 20% – to the Government of Armenia.

From: Emil Lazarian | Ararat NewsPress